MARA Holdings Shares Drop After JPMorgan Downgrade
MARA Holdings (NASDAQ:MARA) shares fell by 5.7% in pre-market trading to $11.30 following a downgrade from JPMorgan, which cut its rating to Underweight from Neutral and lowered the price target to $11 from $13. The bank cited MARA's joint venture with Starwood Digital Ventures as a key factor affecting its risk-reward profile. The decline follows disappointing second-quarter 2026 results where revenue dropped below expectations, reporting approximately $174.9 million compared to an expected $209 million. Additionally, the company posted a loss of $1.60 per share versus earnings of $1.84 in the same period last year. The broader US market also experienced weakness during this session with the Nasdaq Composite down 1.7% and S&P 500 falling by 0.8%. Other Bitcoin mining companies are similarly influenced by cryptocurrency prices, operational costs, and capital expenditures.
Tickers: $MARA
Topics: Bitcoin mining JPMorgan downgrade MARA Holdings price target